Should I app for/Would I get approved for threads...

[Anonymous]

---

@MrsCHX wrote:

I apped BCE when my EX hit around 690 and got $2,000. That was on 2/20.  10 days later I apped Delta. SL was $10,000. I don't know why the discrepancy! 

But, my APR on Delta is 23.49%. On BCE it is 17.74%. BCE came with a $250 bonus after $1,000 spend (which I've already hit and redeemed), and 0% APR on purchases until June 2018. Plus the 3/2/1 cash back rewards. So it is clearly the more valuable card of the 2 right now and I want it to grow!

I got $100 with the Delta as a statement credit on my first Delta purchase and 30,000 miles. I've checked a flights to a few places I'd like to visit this year and many were at the 25,000 to 30,000 miles. I live in a Delta hub city.

---

Thank you ... I apped for BCE when I was at (no joke) 666 ... and got $2K also. That was exactly 10 days ago for me too ... LOL ... so the Delta is on my radar (I've read of others who got BCE first and then apped for Delta and got a sizeably higher limit. I'd love to app and hit for at least a $5K limit, but I'm not sure that'll happen ... 

I've considered waiting til after my 61 day BCE mark ... decisions decisions ... 

[MrsCHX]

It's so hard to know when to pull the trigger! 

[RockinRay]

I'm glad this thread resurfaced. There is some solid advice here that many should pay attention too!

I fully agree with the wait for 6 month's. That makes total sense to me. In my case, that wait has always paid off very well.

Another thing we see here are some really high APR's. Looking at this from the lenders perspective, it is all about risk and reward for them and how they can protect potential losses. So it is risk adjusted pricing. Again, wait that extra 6 months and instead of 23% you might get 15%. If you ever have to carry a balance, that can make a huge difference.

At one time, we had fairly sizable investment accounts on Lending Club and Prosper, so I got to learn a lot about risk adjusted pricing. I no longer invest on those platforms though. 

If you are on the cusp, it would be much better for you to wait the 6 months! I know it is hard. It was hard for me when I was working on building our portfolio,

But it works.  

[Anonymous]

---

@atomicfront wrote:

---

---

.  Capital One Platinum is a starter card for new to credit or bad credit.  You can get it when you are in the low 500s.  It is high interest and no rewards.  Once your credit improves then you can apply for better Capital One Products. 

 

---

This is true, but it's worthy of mentioning here that it's not just that it's a "starter card" it's that it's a "starter account."  You can PC the Platinum to a better product in the future as your profile improves, but since that better product is still tied to a "starter account" it will not grow or have any greater potential as the new product over the Platinum that it was previously.

[Anonymous]

That's why, at least to me, saying they PC a Platinum is a bit of a misnomer. They don't really PC it ... They add rewards to it and give you a QuickSilver branded card, but it's still a Platinum in their eyes

[Anonymous]

---

@Anonymous wrote:
That's why, at least to me, saying they PC a Platinum is a bit of a misnomer. They don't really PC it ... They add rewards to it and give you a QuickSilver branded card, but it's still a Platinum in their eyes

---

That is 100% correct.  It definitely gives the cardholder false hope though that they can now grow their card better since they after all possess a "better card" in their view.  It's quite misleading.

[Anonymous]

I know this thread has been inactive for a while now, but I've been seeing a ton of these threads pop up lately, so I feel bringing it back to life may help or offer a different perspective to those that are considering applying for a product with "on the cusp" type scores/profiles.

[Anonymous]

I just read all pages of this thread. Soooo much useful information here. I am really glad it was bumped back up to the top!! Thank you